What is Moonriver? Moonriver (MOVR) was developed by the Moonbeam Foundation, while PureStake is the company behind the Moonbeam Foundation. In this article what is Moonriver, what does it offer, what is MOVR coin? You can access the answers to the questions that investors wonder, such as what the MOVR does and how to buy it. As Kriptokoin.com, we have prepared it for you.
What is Moonriver? What does it do?
The Moonbeam Foundation created Moonriver as an Ethereum-compatible blockchain environment on the Kusama (KSM) network. Moonriver is designed to operate as a parachain in Kusama and help crypto projects expand their reach to new users and markets with a multi-chain approach. In Kusama, parachains are private blockchains that feed into the main blockchain and heart of the Kusama network, called the Relay Chain. Relay Chain is responsible for Kusama’s shared security, consensus and transaction agreements. Parachains are integrated into the Relay Chain, taking advantage of the core features of the Relay Chain.
The Moonbeam team has chosen to launch Moonriver (MOVR) in Kusama to provide its community with an Ethereum compatible smart contract platform. It then launched Moonbeam (GLMR), a similar platform for Polkadot, in 2021. Moonriver is intended to function as a “canary net” for Moonbeam in Polkadot; This means that the new code will first be sent to Moonriver where it can be tested and verified under real economic conditions before being sent to Moonbeam.
What is MOVR coin?
MOVR coin is the native token of Moonriver. Moonriver’s native cryptocurrency MOVR plays an important role in maintaining and operating the Moonriver network. Paying transaction fees, supporting smart contract execution, incentivizing block generation to support the network. Additionally, it is used to facilitate Moonriver’s on-chain governance mechanism.
How does Moonriver work?
Moonriver provides an environment to test new code under real economic conditions. The new code is being sent to Moonriver where it can be tested and verified first. Once proven, the same code is sent to Moonbeam in Polkadot. Although Moonriver shares most of its codebase with Moonbeam after both are released, Moonriver will continue to live on as a parachain in Kusama, with its own projects and specific use cases. In August 2021, Moonriver officially became a parachain on the Kusama network.
Moonriver is an easy way to the Kusama Relay Chain. It allows teams and developers familiar with Ethereum to access the Kusama Network with little or no barriers. It minimizes the changes required to run existing Solidity smart contracts on the network. Therefore, Ethereum projects are able to easily replicate their DApps. Additionally, it distributes to Moonriver using popular distribution tools.
What is Moonriver? How to get MOVR coin?
Moonriver is traded on many crypto currency exchanges with large trading volume. MOVR coin is currently listed by exchanges such as Binance, OKX, Bybit, MEXC. To purchase the token, it is necessary to become a member of one of these exchanges and verify the identity. Investors who have created their accounts completely can buy MOVR coins by depositing money in their wallets.
